Emerging Trends in Real Estate 2023 with Frank Magliocco of PwC 2023

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At the Toronto Real Estate Forum, we’re welcoming Frank Magliocco back to the show. He is a partner in the Audit and Assurance Group of PwC Canada, and annually takes us through PwC’s Emerging Trends report. Today, of course, he’ll tell us all about what’s hot in 2023.

There were three large trends in the report this time around: price discovery, ESG, and housing affordability. Frank takes us through his thoughts on all of these, while also making predictions on how attitudes towards these areas will continue to evolve throughout the year.

Topics covered include:

  • How people’s perspective on real estate had a reset last year.
  • Entering a “price discovery” stage where asset value is difficult to determine.
  • The driving forces behind ESG coming further into the spotlight.
  • Housing affordability continuing to be top-of-mind.
  • Capital not having disappeared, but rather just being on the sidelines.
  • How motivation towards ESG differs from one type of investor to another.
  • The importance of ESG not only to tenants, but to employees.
  • Upcoming incentives for companies with strong ESG efforts regarding loans.
  • A study from Europe about the advantages of paying attention to ESG.
  • The increase of home prices in “tertiary cities” since the start of the pandemic.
  • The gap between housing supply and immigration forecasts.
  • Why Canada needs innovation to keep up with housing demand.
  • The possibility of institutional capital reducing their exposure to real estate.
  • REITs being in a complicated spot right now.

Emerging Trends in Real Estate 2023 report: https://www.pwc.com/ca/en/industries/real-estate/emerging-trends-in-real-estate.html

More about our guest…

Frank Magliocco is a partner in the Audit and Assurance Group of PwC Canada working in the Toronto office. He is also the national leader for the Canadian Real Estate practice.

Frank specializes in auditing, accounting and regulatory matters for real estate companies. He provides advice to clients in the broad real estate sector including property developers, residential construction companies, large national office, industrial and retail property owners, and property managers. In addition, Frank’s experience in the real estate sector includes instructing courses at the Real Property Association of Canada (RealPac), where he is a member of RealPac’s Financial Best Practices Committee.

Frank began his career at PwC in 1989 and became a partner in 2001. Prior to focusing on real estate, he provided assistance with acquisitions, reorganization and debt and equity offerings to a number of private and public companies. He has significant experience with Canadian securities regulation, and has provided assistance with public filings.

Frank is a CA and holds a BComm from the University of Toronto.

The CRE Podcast is powered by First National.

In partnership with Canadian Real Estate Forums.

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